Market Wrap: Empire Manufacturing State of Mind; Weyerhaeuser Purchases; Walter Continues Slide
Tweet
Share
E-mail
Get Alerts WY Hot Sheet
Join SI Premium – FREE
Market wrap for June 17th
End of the Day: S&P 500 up 12.3 to 1,639.04; Dow Jones up 109.7 to 15,179.85; Nasdaq up 28.6 to 3,452.13
* Today's June Empire State Manufacturing Survey rose 7.8 percent in June, with the Street looking for a gain of 0.8 percent. The new orders index slipped six points to minus 6.7, the shipments index fell twelve points to minus 11.8, and the unfilled orders index fell eight points to minus 14.5.
* Weyerhaeuser Company (NYSE: WY) announced signing a definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management Inc. for $2.65 billion, which includes the assumption of debt.
* Orchard Supply Hardware Stores (Nasdaq: OSH) reached an agreement through which Lowe's Companies, Inc. (NYSE: LOW) will acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. To facilitate the sale and restructure its balance sheet, Orchard has filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware.
* Johnson & Johnson (NYSE: JNJ) announced entering a definitive agreement to acquire Aragon Pharmaceuticals, Inc., a privately-held, pharmaceutical discovery and development company focused on drugs to treat hormonally-driven cancers. Under the terms of the agreement, Johnson & Johnson will make an upfront cash payment of $650 million, plus additional contingent payments of up to $350 million based on reaching predetermined milestones. The transaction is expected to close in the third quarter of 2013.
* Rambus, Inc. (Nasdaq: RMBS) said it entered a settlement and license agreement with STMicro (NYSE: STM). In addition, the company raised guidance for Q2. As expected, shares are positive in late trading Monday.
* After closing over 17 percent lower last Friday, Walter Energy (NYSE: WLT) trickled a little lower today as well. Speculation surrounded whether the company would be postponing a $1.55 billion debt refinancing, which was confirmed just ahead of the close on June 14th. Shares slipped 3.5 percent Monday.
* Terex Corp. (NYSE: TEX) was slammed on Monday's session after announcing that it lowered its full year 2013 guidance and guided second quarter expectations below consensus views. For more color, click here.
End of the Day: S&P 500 up 12.3 to 1,639.04; Dow Jones up 109.7 to 15,179.85; Nasdaq up 28.6 to 3,452.13
* Today's June Empire State Manufacturing Survey rose 7.8 percent in June, with the Street looking for a gain of 0.8 percent. The new orders index slipped six points to minus 6.7, the shipments index fell twelve points to minus 11.8, and the unfilled orders index fell eight points to minus 14.5.
* Weyerhaeuser Company (NYSE: WY) announced signing a definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management Inc. for $2.65 billion, which includes the assumption of debt.
* Orchard Supply Hardware Stores (Nasdaq: OSH) reached an agreement through which Lowe's Companies, Inc. (NYSE: LOW) will acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. To facilitate the sale and restructure its balance sheet, Orchard has filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware.
* Johnson & Johnson (NYSE: JNJ) announced entering a definitive agreement to acquire Aragon Pharmaceuticals, Inc., a privately-held, pharmaceutical discovery and development company focused on drugs to treat hormonally-driven cancers. Under the terms of the agreement, Johnson & Johnson will make an upfront cash payment of $650 million, plus additional contingent payments of up to $350 million based on reaching predetermined milestones. The transaction is expected to close in the third quarter of 2013.
* Rambus, Inc. (Nasdaq: RMBS) said it entered a settlement and license agreement with STMicro (NYSE: STM). In addition, the company raised guidance for Q2. As expected, shares are positive in late trading Monday.
* After closing over 17 percent lower last Friday, Walter Energy (NYSE: WLT) trickled a little lower today as well. Speculation surrounded whether the company would be postponing a $1.55 billion debt refinancing, which was confirmed just ahead of the close on June 14th. Shares slipped 3.5 percent Monday.
* Terex Corp. (NYSE: TEX) was slammed on Monday's session after announcing that it lowered its full year 2013 guidance and guided second quarter expectations below consensus views. For more color, click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lowe's (LOW) PT Lowered to $275 at Guggenheim
- Klarna (KLAR) Reiterated at Market Perform by Citizens Amid Volume Headwinds
- Faraday Future reports record Q2 revenue, cuts debt by $100M
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Standard & Poor's, Bankruptcy, Empire ManufacturingSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
